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CALIFORNIA CORPORATE & SECURITIES LAW

June 30 Deadline Looms For Foreign Lending Institutions

California Corporations Code Section 191(d) provides that a “foreign lending institution” will not be considered to be “doing, transacting or engaging in business” in California solely by reason of engaging in specified categories of activities.  Those activities include, for example, the ownership of loans and the enforcement of loans.  Based on this statute, some foreign lending…

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June 30 Was The Filing Deadline For Statements By Foreign Lending Institutions

In this March post, I wrote about the problem of indeterminacy created by the legislature’s use of the word “includes” in defining terms in the General Corporation Law.  “Includes” is usually interpreted in statutes and rules as a term of enlargement, not limitation.  Hassan v. Mercy American River Hospital, 31 Cal. 4th 709, 717 (2003).  Thus, one never really knows the…

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